Principal (initial amount), P = 1
Annual simple interest rate, R = 4.5%
From date: Aug 3, 396
To date: Aug 3, 784
Duration, T = 141,714 days (4,656 Months)
Commission fee (withdrawal), F = 0%
No. of days in a year, N = 365
I = Simple interest:
I = (P × R × T) ÷ N =
(1 × 4.5% × 141,714) ÷ 365 =
(1 × 4.5 × 141,714) ÷ (365 × 100) =
637,713 ÷ 36,500 ≈
17.471589041096 ≈
17.47
B = Amount earned:
B = P + I =
1 + 17.471589041096 =
18.471589041096 ≈
18.47